Autodesk Subscription ARR Overtakes Maintenance ARR; Cements Positive Outlook; Shares Overvalued
Autodesk’s fourth-quarter result illustrated the firm’s successful ongoing transition to a predominantly subscription-based business model. The company’s quarterly revenue was slightly ahead of our expectations, while non-GAAP EPS was within our forecast. The quarter marked an important milestone as subscription plan annualized recurring revenue, or ARR, overtook maintenance plan ARR. We did expect this growth dynamic, but the result cements our conviction in the efficacy of management’s long-te...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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